The soy protein concentrate facility will be in Morristown, Ind.
By Diego Flammini
An ag commodities company is building a new soybean processing facility in the U.S. Midwest.
On Dec. 15, Bunge announced it is investing about $550 million to build a soy protein concentrate and textured soy protein concentrate facility next to its soybean processing plant in Morristown, Ind.
Soy protein concentrate is made by removing carbohydrates from soybeans. It’s used in meat and poultry products to increase water and fat retention, and to improve nutritional values.
And textured soy protein concentrates can be used to reproduce the appearance and texture of meat fibers and can be used to extend or replace meat or fish.
Construction on the new facility is expected to begin in the first quarter of 2023 and be commissioned by the middle of 2025.
Once up and running, the new plant will create 70 full-time jobs and process upwards of 4.5 million bushels of soybeans annually.
“As the world’s largest oilseed processor, plant proteins are a natural extension of our industry leading oils, fats, and specialty ingredient portfolio. This new facility is an important step in our long-term strategy to strengthen our capabilities in downstream higher value food ingredients,” Greg Heckman, CEO of Bunge, said in a statement.
In addition to the new facility announcement, Bunge revealed it recently invested $10 million into its Creative Solutions Center in Missouri.
Bunge opened the Creative Solutions Center in 2018 to offer customers full value chain expertise.
The 40,000-square-foot facility includes labs and a scaled-down version of an oil plant that can make shortenings, oils and other items used by food companies, bakeries and restaurants